Sonaecom still courting Zon

19 Nov 2008

The head of Portuguese alternative telco Sonaecom says that a merger between his company and cable TV operator Zon would work well on paper. Paulo Azavedo, chairman of Sonaecom and CEO of parent company Sonae, told local newspaper Jornal de Negocios: ‘A merger of Zon with Sonaecom would be the best solution to rapidly construct a very balanced and competitive market.’ He added, however, that Soneacom would not make an offer for its competitor unless invited to do so. Sonae made an unsuccessful takeover bid for Portugal Telecom in 2007, a move which prompted the incumbent to spin off its cable operations into Zon.

Portugal, Nos, Optimus (Clix)